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Fed’s Bullard Talks Deflation
By Adam Button || September 29, 2011 at 21:11 GMT
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The Fed will not do QE3 unless prices start to fall but that might already be underway, the Fed’s Bullard told the WSJ.
- He said recent declines in inflation expectations in the bond market are worrisome.
- Bullard is often classified as a hawk but he bounces around, so this isn’t a big surprise. He doesn’t vote on the FOMC until 2013.
- He isn’t yet ready to act, saying the economy would likely need to be hit with another shock to push inflation expectations below the Fed’s target.
- He still sees a high standard for another round of QE3.
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